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    Question

    When a person dies, what will be the liability of the

    legal representative for the penalty imposed on the deceased under Depository Act?
    A Legal representative will be liable to the same extent as the deceased Correct Answer Incorrect Answer
    B Legal representative will be liable to the extent of their share Correct Answer Incorrect Answer
    C Legal representative will be liable only if the penalty on the deceased is imposed before his death Correct Answer Incorrect Answer
    D Legal representative will not be liable at all Correct Answer Incorrect Answer
    E Legal representative will be liable only if penalty is imposed after the death of deceased Correct Answer Incorrect Answer

    Solution

    Section 28B of SEBI Act or Section 19IC of Depository Act

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